To help small and micro enterprises and individually-owned businesses to survive the post-pandemic era, Shanghai Electric has thoroughly promoted rent reduction and exemption to relieve their liquidity burdens and enhance their development capacity. It is estimated that nearly 500 million yuan has been saved for over 1,500 small and micro enterprises and individually-owned businesses located in Shanghai Electric’s industrial parks and commercial buildings.

Shanghai Electric Group, an enterprise established and thriving in Shanghai, has taken the lead in assuming major responsibilities and implementing control measures in the battle against the virus. Amid the pivotal period in pandemic containment, it has striven to remove obstacles to the development of these entities by minimizing losses as soon as possible and providing the most-needed help to revive their growth. With pragmatic measures implemented, Shanghai Electric Group pushes businesses in the park to move forward continuously, demonstrating its high sense of responsibility as a state-owned enterprise.

Under the direction of Shanghai Electric Group, Shanghai Electric Group Properties Co., Ltd. (hereinafter referred to as “Shanghai Electric Group Properties”) which is responsible for the management of the group’s real estates, has carried out rent reduction and exemption policies in a timely, thoughtful and well-organized manner, fully shouldering the responsibilities of a state-owned enterprise. Upon the release of Detailed Rules for the Implementation of Housing Rent Reduction and Exemption for Small and Micro Enterprises and Individual Industrial and Commercial Households by State-owned Enterprises in Shanghai (hereinafter referred to as “the Detailed Rules”) on March 30, Shanghai Electric Group Properties organized a dedicated work team and fabricated detailed operational rules in line with the policy that specified the list of application documents to be supplied and respective templates, making the implementation efficient and regulated.

It took the work team only 10 days to finish all preparatory work including information collection, policy communication, document preview and plan making, showing the “high efficiency” of Shanghai Electric Group Properties. After identifying legitimate tenants at the fastest speed possible through phone calls and WeChat, the work team articulated the policy to and reached agreements on the reduction and exemption plan with them before information confirmation as per requirements that reduction and exemption should be exercised in line with the policy and to the fullest extent in the fastest and most pragmatic manner, trying to facilitate the implementation.

“For the next step, we will enhance communication with tenants, press ahead with the work in compliance with laws and regulations and make ensure that reduction and exemption records are kept and managed in a comprehensive and authentic way, enabling legitimate tenants to benefit from the policy as early as possible.” said a manager who is responsible for it.